While countries around the world are adopting open banking in their unique ways, the UK and the US stand out as leaders with very different approaches.
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7 ways the new US Open Banking regulation outshines the UK’s
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4 things that the US open banking regulation should have copied from open banking Nigeria
Open Banking has been hailed as the future of financial services globally. The idea is simple: consumers should own their financial data and have the right to share it with whomever they choose, securely and seamlessly. Yet, as open banking evolves, the nuances of implementation often separate the pioneers from the followers. The United States, …
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Open Banking: Citi to become 1st corporate bank to enroll with UK Open Banking
Citi is gearing up to become the first corporate bank to enroll as a Payment Initiation Service Provider (PISP) with UK Open Banking Directory. According to news sources, CitiBank will join UK’s Open Banking framework to provide an aggregated payments collections service for its business clients, tapping the APIs of the country’s largest nine banks, with …
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Open Banking: Token.io becomes 1st licensed PISP to conduct end-to-end payment through public bank API
Leading Open Banking platform provider Token.io Limited has made history by becoming the first licensed Payment Initiation Service Provider (PISP) to conduct an end-to-end payment through a public bank API. As a result, millions of customers are set to benefit from simpler and more secure payments, through this historic move in the world of banking. Confirmed as …
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Australia: Open Banking ready to be implemented by Government
Steps to kick-start Open Banking in Australia has begun with the publication of a final Government report along with a draft legislation to authorize comprehensive credit reporting. The Government report into Open Banking which was commissioned in July 2017, makes 50 recommendations, on the regulatory framework, the type of banking data in scope, privacy and …
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Open Up Challenge: Nesta rolls out £2M funds to encourage Open Banking
An innovation agency in the UK, Nesta has rolled out £2 million in an “Open Up Challenge’ aimed at encouraging participation and nurturing the evolving open banking ecosystem. The Open Up Challenge is a global research initiative for organizations who would adopt new Open Banking APIs to transform the way small businesses discover, access and …
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